“I’m out:” Shell solar employee praised for quitting after oil giant’s climate backflip
Shell, a massive worldwide oil company, recently made a decision to cease its yearly oil production reduction goal in favor of increasing profits from fossil fuels. This decision was made at the expense of necessary steps to combat climate change. An ex-employee of the company called attention to this on LinkedIn.
This week, Shell informed its shareholders that it would maintain its oil production levels until 2030, instead of reducing production by 1-2% each year. Additionally, the company intends to allocate $40 billion towards oil and gas production between 2023 and 2035, as opposed to only $10-$15 billion towards "low-carbon" products.
Steffen K, who works at Next Kraftwerk, a German virtual power plant company specializing in solar and battery, was among the employees who left the company after it was acquired by Shell in 2021. Shell made several "new energy" investments, and Steffen K announced on LinkedIn that the acquisition had led him to resign.
On Thursday, Steffen K wrote about Shell's decision and stated that it marked a significant change in the way the company views its duties. This move appears to prioritize short-term financial gains over the company's obligation to society and the environment.
The post mentioned that the writer didn't want to be involved in something, hence they are leaving. It was saddening for them since they enjoyed working at Next with their amazing coworkers, and were really proud of what they have accomplished together. However, they just can't continue to be a part of it.
It's a fact that Steffen is not the only one taking action. Recently, the Church of England Pensions Board made an announcement stating that they will sell their £1.35 million investment in Shell. This decision was made as part of their overall exit strategy from the oil and gas industry, and also from entities that fail to show satisfactory ambition for decarbonization consistent with the Paris climate agreement goals.
The CEO of CofE Pensions Board, John Ball, pointed out that there is a major disagreement between the pension fund's long-term needs and investing in businesses that prioritize short-term profit gains over accomplishing the aims of the Paris Agreement.
The sector's ability to transition has been affected by the recent changes made by BP and Shell, which have gone back on their previous promises. As a result, confidence in the sector has been reduced.
The Climate Group strongly criticized Shell's shift in approach, citing that it places the oil corporation in a position of being an outcast.
According to Helen Clarkson, CEO of the Climate Group, Shell's decision is not a typical business decision but more like abandoning their duty towards the issue of climate crisis in a thoughtless manner.
To ensure that the world remains habitable, we must make significant changes to our economies and how we use fossil fuels. This transformation must begin with the fossil fuel corporations.
Shell, a company that has gained profit from selling fossil fuels and has been mandated by the courts in the Netherlands to reduce emissions, must take a leadership role and focus on more than just earning money.
Shell has just revealed its intention to sell its retail home energy businesses in England, Germany, and the Netherlands after thoroughly reviewing its European retail ventures shortly after Sawan became CEO.
Shell stated in a message that they have finished their review, and plan on leaving those particular businesses. They have begun selling off those businesses and hope to come to an agreement with a buyer within the next few months.
A couple of years ago, Shell took ownership of ERM, an energy supplier that caters to businesses and industries in Australia. They also acquired Powershop, a supplier that caters to individual customers. The acquisition of Powershop received criticism from some of their customers.
In October of last year, Shell Energy Australia declared that it was taking part in a partnership to construct, possess, and manage a significant battery with a capacity of 500MW and 1,000MWh in the NSW Central West Orana REZ.
Additionally, it has announced a project valued at $31.6 million to utilize around 21.5MW of demand-side capacity by controlling the power consumption of at least 40 Australian commercial and industrial properties. This project has obtained support from ARENA.
Shell Energy Operations and Foresight have recently joined forces to acquire a 370MW hybrid wind, solar, and battery storage project located in Perth, Western Australia. This acquisition marks a significant milestone for both companies in the sustainable energy sector.
During the month of March, Shell made an agreement to acquire 49 percent of ownership in WestWind Energy Development, an Australian company that specializes in the development of wind farms. WestWind has a project pipeline of 3 gigawatts in various locations throughout Victoria, New South Wales, and Queensland.
WestWind increased its investment in Esco Pacific, which specializes in developing solar farms. Additionally, it made a direct investment in the Gangarri solar project in Queensland, which has a capacity of 100MW.
